2021-09-23 14:44:01
Past, present and future exist simultaneously on L2.
After traveling between different ancient crypto worlds, you might end up in a cyberpunk city where DeFi rules.
Anyway, it's time for 1inch to move on... it's time for Arbitrum! 1inch continues its legendary DeFi conquest! Get ready for lower transaction costs, higher tx speeds and fast withdrawals as the 1inch Network expands to Arbitrum, a Layer 2 solution on Ethereum provided by Offchain Labs.
Arbitrum is an Optimistic Rollup solution that supports the same byte code as Ethereum, so that ETH devs could easily cross-compile their contracts for running on Arbitrum.
This ensures full compatibility with ETH on the smart contract and Web3 interface levels.
Arbitrum's major advantages are: Much lower costs of transactions
Fast confirmations, giving a near-instant user experience
Depositing funds via Arbitrum is seamless via its native bridge, but the protocol enforces a withdrawal delay when withdrawing funds to Ethereum to allow for the state to be fully confirmed.
Nevertheless, several providers have already launched fast bridging solutions to close this gap and give users a fast and cost-effective browser into and out of Arbitrum One.
The following protocols will be immediately available via 1inch on Arbitrum: Uniswap
Balancer
1inch Limit Order Protocol
DODO
SushiSwap
Swapr
WETH Read more: https://blog.1inch.io/the-1inch-network-expands-to-arbitrum-c0e09bfd7ebf
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